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the question is are they going to raise taxes on everyone or allow obama's idea of raising taxes on just the job creators? >> sean: if we're governing based on perception, we'll lose always. >> no, no. >> sean: yeah, always. the media will always side with the democrats and the liberals. >> of course they will, but there are some things where you're handing a gift to the media where there is something to the point they're making, and moreover, the point is standing on principle. if they could win, that would be one thing. they can't win. >> sean: they might as well have the whole government and let them take the responsibility for the failure. >> we can raise taxes on hollywood, new york, new york and warren buffett. you're wrong. >> they're going to lose. >> sean: you're saying the pr war. >> no, no, no. >> sean: they have the power of the purse. they should use their constitutional authority. >> if they block tax hikes on the income earners, taxes go up for everyone. how is that winning? that isn't winning. just make sure the media cannot blame the next four years of the economy on the
the question is are they going to raise taxes on everyone or allow obama's idea of raising taxes on just the job creators? >> sean: if we're governing based on perception, we'll lose always. >> no, no. >> sean: yeah, always. the media will always side with the democrats and the liberals. >> of course they will, but there are some things where you're handing a gift to the media where there is something to the point they're making, and moreover, the point is standing on...
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lawmakers to accepting the tax hikes now. >> i miss visiting towns like this. >> president obama got his wish, rather than negotiating with republicans he was hamering them. back on the campaign trail in a factory that makes angry bird toys. >> it's not accept to believe me and i don't think it's acceptable for you for republicans in congress to hold middle class tax cuts hostage because they don't want the tax rates on the upper income folks to go up. >> within minutes, john boehner fired back the talks are on life support. >> let's not kid ourselves. >> boehner ripped the president for sending treasury secretary ti tim geithner to capitol hill with a proposal that led mitch mcconnell literally burst out laughing. >> the white house took three weeks to respond with any kind of proposal. and much to my disappointment, it wasn't a serious one. >> their beef is the president campaigned on $800 billion in tax increases by ending the bush tax cuts for the wealthy. but is now proposing double that. $1.6 trillion. by adding tax hikes on dividends and capital gains. plus, the white house wa
lawmakers to accepting the tax hikes now. >> i miss visiting towns like this. >> president obama got his wish, rather than negotiating with republicans he was hamering them. back on the campaign trail in a factory that makes angry bird toys. >> it's not accept to believe me and i don't think it's acceptable for you for republicans in congress to hold middle class tax cuts hostage because they don't want the tax rates on the upper income folks to go up. >> within minutes,...
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Dec 4, 2012
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, obama-care already taxes the middle class. the majority of the country do not want to be taxed. what they don't know already is everybody is getting a tax increase because of obama-care. people get the government spending too much. they want spending cuts. i will give you this, though. when you start to talk about specific cuts, people say don't cut my entitlement. that's the difficult issue in washington. but democrats have to wake up. martha: when you look at the 2% you are talking about. now it's 2%. when you look at it. who they want to have taxes raids on the white house. it's not a fiscal policy. is that a punishment orifice cal policy? >> i don't think it many a punishment. not in and of itself which is why you have to couple that with three times as much spending cuts. these people have had the best of the best for the last 20 years. when there is a tax bill they get favored. it's time for them to give a little back. andrea says all these people will be hurt. they will be hurt because her party is holding on for a bunc
, obama-care already taxes the middle class. the majority of the country do not want to be taxed. what they don't know already is everybody is getting a tax increase because of obama-care. people get the government spending too much. they want spending cuts. i will give you this, though. when you start to talk about specific cuts, people say don't cut my entitlement. that's the difficult issue in washington. but democrats have to wake up. martha: when you look at the 2% you are talking about....
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Nov 29, 2012
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thanks to the tax and spend agenda of president obama there's no end in sight. if he's serious about tackling the debt, he'd be talking about reining in spending, but he's hell-bent on one thing, raising your taxes. by the way, don't dare thing for one minute, or believe the hype, that this is only going to affect the so-called rich. this white house is willing to put any and all tax breaks on the table, including letting the payroll tax cut expire. that would move would affect all americans. watch this. >> there are many tax provisions that are expiring at the end of the year, and the president has said that the payroll tax cut, among others, should be on the table. you look at a permanent extension of the middle class tax cuts, the economic effects are different. >> sean: if the payroll tax cut is on the chopping block, nothing is safe. all americans, regardless of how much money you make, you'll be affected. joining us to give us the republicans' view on some of the things, somebody made headlines recently when he appeared to distance himself from a longstand
thanks to the tax and spend agenda of president obama there's no end in sight. if he's serious about tackling the debt, he'd be talking about reining in spending, but he's hell-bent on one thing, raising your taxes. by the way, don't dare thing for one minute, or believe the hype, that this is only going to affect the so-called rich. this white house is willing to put any and all tax breaks on the table, including letting the payroll tax cut expire. that would move would affect all americans....
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. >> president obama accusing republicans ever being willing to raise taxes on 98% of americans, while speaker boehner said it's the president when is unwilling to compromise. it's time now for our sunday group. bill crystal of the weekly standard. marcha liason and ed rollins and former democratic senator that you heard. >> each of them are saying they are being reasonable and it's the other side's fault. you have been through your share of washington negotiations. what strikes you about what you heard today? >> i think they both made their case well but i think geithner is in a stronger position in this respect. the president is the president. he can maneuver, he can say my $1.6 trillion and he can say $1.2 trillion. speaker boehner has 135 members. they don't hop to it when he decides to move. he's in a tougher position structurally. in these show downs the white house usually wins and the main reason they win is it's a unitary executive. and congress is in a weaker position. >> all right. >> what happened this week is interesting. both sides are putting out their maximalist positio
. >> president obama accusing republicans ever being willing to raise taxes on 98% of americans, while speaker boehner said it's the president when is unwilling to compromise. it's time now for our sunday group. bill crystal of the weekly standard. marcha liason and ed rollins and former democratic senator that you heard. >> each of them are saying they are being reasonable and it's the other side's fault. you have been through your share of washington negotiations. what strikes you...
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if president obama is talking about taxing the wealthy. it doesn't get you there. the math doesn't add up. i doesn't get you out of the hole. but if they get that on december 22 and all he get he is has a seriouscliff on his hands. >> i want to play this. question to nancy pelosi. the minority leader in the house about spending cuts and what she is willing to do. >> the thing on the spending cuts -- the definite -- [ inaudible ] >> $1.5 trillion in cuts is a lot of money. we in washington, d.c. and we get used to big numbers but $1.5 trillion in cuts you go beyond that, you are talking hurting the growth of the infrastructure and education of our people and the pillar, the pillars of our economic strength. >> bret: that is a message, steve, we cut enough. yesterday, i should point out that senator reid meant to say $1 trillion. not one $1 billion on the sound bite we played to be fair to him. but nancy pelosi is clearly saying we're done. >> you see this in the comments that the democratic members of the house made to the public. big argue in politico, not refrench
if president obama is talking about taxing the wealthy. it doesn't get you there. the math doesn't add up. i doesn't get you out of the hole. but if they get that on december 22 and all he get he is has a seriouscliff on his hands. >> i want to play this. question to nancy pelosi. the minority leader in the house about spending cuts and what she is willing to do. >> the thing on the spending cuts -- the definite -- [ inaudible ] >> $1.5 trillion in cuts is a lot of money. we...
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. >> tim geithner confirming what republicans have been saying the obama administration is ready to go over the so-called fiscal cliff if taxes are not raised. >> the administration prepared to go over the fiscal cliff? >> absolutely. there is no prospects in agreement that doesn't involve the raise going up on the top 2 percent. >> house speaker bane another a boehner and president obama have been talking by phone. not much progress was made. boehner says if he doesn't agree with the propose sal he has obligation to submit one of his own. >> the missing girl battling leukemia is safe and is being treated in new mexico. she was taken out of a hospital in phoenix. her mother took her. doctors are worried she could potentially get a deadly infection. the girl's father claims the hospital was to blame for a different infection which cost emily her right arm. he's refusing to tell police where she is in mexico. both parents could face criminal charges. >> shock, disgust and fear spread quickly on the campus of the university of -- one details the exact moment they realty lied they were in
. >> tim geithner confirming what republicans have been saying the obama administration is ready to go over the so-called fiscal cliff if taxes are not raised. >> the administration prepared to go over the fiscal cliff? >> absolutely. there is no prospects in agreement that doesn't involve the raise going up on the top 2 percent. >> house speaker bane another a boehner and president obama have been talking by phone. not much progress was made. boehner says if he doesn't...
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if barak obama believes in the clinton tax cuts, let them go back into affect for the entire country and see if the country believes they are good for america. >> the president is campaign acting like he received a anytime percent man date when he only received half. what impact is this having on the psyche of the gop. >> it is affecting the psyche of the president. he's act being like he did win a huge victory . he did win a substitute victory and what happened to the republicans is, they are fearful of all of these taxes going up they are trying to a bargain in good faith to give away something and then say if you will give us something and make us look good. don't humiliate us. the democrats are humiliating the republican party in making that offer . i think their own dignity and principles and beliefs, what republicans ought to say is, we think that extending the tax cuts pay roll and bush tax cuts is good for economy and america and consistent with our principles and blives and you are not going to put a gun to our head and testimony us to give up all of these things and we'll v
if barak obama believes in the clinton tax cuts, let them go back into affect for the entire country and see if the country believes they are good for america. >> the president is campaign acting like he received a anytime percent man date when he only received half. what impact is this having on the psyche of the gop. >> it is affecting the psyche of the president. he's act being like he did win a huge victory . he did win a substitute victory and what happened to the republicans...
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first offer that included new spending plus 1.6 trillion in tax hikes. totally unacceptable. >> i think we are going over the cliff. it's clear to me they made political calculation. white house officials insisted disaster could be amended and demanded a counter offer on the table. >> what we hope for is specificity from the republicans. >> an hour later, boehner did that. oftenning $800 billion in new tax revenue without raising rates. half what the president wants. far steeper cuts to entitlement than the president called for. $300 billion in savings from other programs like farm subsidiaries. >> the president ignored questions in the oval office. he went to twitter to repeat there can't be tax cut at the rich at the expense of domestic programs. they have an unpopular move to raise medicare eligibility age from 65 to 67. slower growth and social security benefit using less generous measure of inflation. boehner decided to lay down the gauntlet and challenge the president's mandate in a letter to mr. obama. writing, "after a status quo election in whic
first offer that included new spending plus 1.6 trillion in tax hikes. totally unacceptable. >> i think we are going over the cliff. it's clear to me they made political calculation. white house officials insisted disaster could be amended and demanded a counter offer on the table. >> what we hope for is specificity from the republicans. >> an hour later, boehner did that. oftenning $800 billion in new tax revenue without raising rates. half what the president wants. far...
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isn't it similar, obama demonizing pay your fair share, pay a little more? >> the only reason he got elected is because people believe this. this is the point. it's easy to laugh at the idea that tax cuts make people rich. that's ludicrous. you would have to know nothing about economics to believe something that stupid, but here's the point. a lot of people do, and they do because of material like this. the fact that it's again produced by teachers, the very people we depend upon to educate our kids is horrifying. >> what is the difference between what the president is doing now in this fiscal cliff debate, what he did during the campaign, demonizing bain capital, evil mitt romney, etc., and what this is doing? i'm joking when i say i feel like going out and beating up a rich person. i can understand yeah, those people are horrible and evil. >> it's a zero sum game, and my gain is your loss. i got rich because you are poor. that's exactly what he's saying. >> we could have a really interesting conversation about the distribution of wealth, but he is spouting
isn't it similar, obama demonizing pay your fair share, pay a little more? >> the only reason he got elected is because people believe this. this is the point. it's easy to laugh at the idea that tax cuts make people rich. that's ludicrous. you would have to know nothing about economics to believe something that stupid, but here's the point. a lot of people do, and they do because of material like this. the fact that it's again produced by teachers, the very people we depend upon to...
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i love hearing martin frost and president obama going out will an defending the bush tax cut. they criticize president bush on one side. but then they are out there saying that the tax cut by an large are needed to get the economy to grow. for martin frost -- >> i isn't say that. matt, i did not say that. i said -- >> well, hold on for you to say that president obama won the election. remember you sat in the house of representatives for many years and republicans controlled that house. when democrats controlled that house, they flex their muscles. the republicans in the house have a constitutional obligation to make sure we get a fair compromise. speaker boehner wants that. that is what he is fighting for. >> i think the president does, too. and the republicans can't expect that after he was re-elected on the basis that the rich get to pay a little bit more that the president -- >> i didn't mean that. i didn't mean that. >> eric: okay. prediction, end it there. prediction we won't be going over the fiscal cliff. >> i think we will not go over the tis call cliff and it will be
i love hearing martin frost and president obama going out will an defending the bush tax cut. they criticize president bush on one side. but then they are out there saying that the tax cut by an large are needed to get the economy to grow. for martin frost -- >> i isn't say that. matt, i did not say that. i said -- >> well, hold on for you to say that president obama won the election. remember you sat in the house of representatives for many years and republicans controlled that...
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president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for anybody, but an incrowsing number of republicans -- an increasing number of republicans are saying they will have to give in to democrats' demands. you know i read a number of websites that said republicans have waived the white flag on some issues, but not all of them. assuring republicans they don't have to vote for a tax increase. >> and it technically may be correct, but not many are buying this new strategy from the white house since the tax cuts from the middle class and those from the top 2% are both set to expire at the end of the year. the white house says congress really only has to extend one of them. the president continues to put political pressure on lawmakers. he met with a middle class family selected from thousands who responded when the white house asked
president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for anybody, but an incrowsing number of republicans -- an increasing number of republicans are saying they will have to give in to democrats' demands. you know i read a number of websites that said republicans have...
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spending cuts and expiring tax breaks and a potential economic disaster a month ago and toured a toy factory in pennsylvania, the company behind lincoln logs. the white house says the trip highlights the response extending the bush era tax cuts for everyone but now for any amount of money you make over $250,000. so everyone get as tax break but not anything over $250,000. that is the company's core customers and flames republicans for holding up the progress. republicans point the finger at the president. >> it is not acceptable to me or to you, i don't think, for a handful of the republicans in congress to hold middle-class tax cuts hostage. >> the white house took three weeks to respond with any kind of a proposal. to my disappointment, it wasn't a serious one. >>shepard: speaker boehner referred to meetings with the treasury secretary geithner. republicans called plan he layed out a step backwards, so much that top senate republican were mcconnell burst into laugh laughing western he heard it. people on the left, even, a lot of people on the left, said, man, this was heavy handed.
spending cuts and expiring tax breaks and a potential economic disaster a month ago and toured a toy factory in pennsylvania, the company behind lincoln logs. the white house says the trip highlights the response extending the bush era tax cuts for everyone but now for any amount of money you make over $250,000. so everyone get as tax break but not anything over $250,000. that is the company's core customers and flames republicans for holding up the progress. republicans point the finger at the...
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>>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects of a deal until the g.o.p. gives in on their demand for more tax money. >> what is lacking are the revenues. we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that requires companies to notify you if it is taking information from you. to law is about to be put to the test. i got word in the last 30 seconds and a ruling from the supreme court, a decision from the supreme court, actually, on whether it will hear a same-sex marriage case and the
>>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects of a deal until the g.o.p. gives in on their demand for more tax money. >> what is lacking are the revenues. we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is...
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republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible to do theoretically but it is not practical or wise as a practical many. >>reporter: ending the mortgage deduction would hammer middle class and the charity deduction being ended would hamper universities and colleges. >>trace: when republicans say the higher tax rates will hurt small business? >>reporter: and that, cost jobs. the white house says only the top 2 percent or 3 percent of small businesses are affected republicans say those are the ones that create the vast majority of the jobs. speaker boehner suggests that capping deductions would actually protect the middle class. >> we have to cut spending and put revenues on the table. now, the revenues will come from, guess who? the rip. there are ways to limit deductions, close loopholes and have the same people pay more of their money to
republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible to do theoretically but it is not practical or wise as a practical many. >>reporter: ending the mortgage deduction would hammer middle class and the charity deduction being ended would...
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president obama proposing a plan that calls for a $1.6 trillion in tax increases over ten years. what's lacking is details on spending cuts. after weeks of talking, republicans saying the president is not meeting them halfway. >> there is a tail mate. let's not kid ourselves. i'm not trying to make this more difficult. you watched me over the last three weeks, i've been very guarded in what i have to say because i don't want to make it harder for me or the president or members of both parties to be able to find common ground. >> arthel: is the president looking to pick a fight with the gop and does he want to go over the fiscal cliff? joining us live now, susan estridge and fox news contributor. good to sigh. >> good to see you, art. >> arthel: so is it preposterous or practical to think that president obama wants to go over the fiscal cliff? >> you know, art, i got to believe that at the end of the day, nobody wants to go over the fiscal cliff. i mean, the one thing we know that came out of this election, this very close election, was that people want both sides to work together
president obama proposing a plan that calls for a $1.6 trillion in tax increases over ten years. what's lacking is details on spending cuts. after weeks of talking, republicans saying the president is not meeting them halfway. >> there is a tail mate. let's not kid ourselves. i'm not trying to make this more difficult. you watched me over the last three weeks, i've been very guarded in what i have to say because i don't want to make it harder for me or the president or members of both...
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on that, and president obama wants to change that to you should get taxed on that income as though it's your actual, like, salary. and if that, if he gets his way on that, then that income goes up to whatever your salary tax rate is, plus if you're over 200 or 250, the 3.8%, plus the .9% as well? >> >> it would be just the 3.8. the% 9 is for wage income above that 200 or 250. but it would be on top of your ordinary income tax rate, so we could be looking at investment income being taxed more harshly than regular income. megyn: well, why should we care about that? for those of us who don't have that many investments, why do we care? >> well, we should care because the tax on capital has a major impact on the economy overall, on productivity growth and, therefore, on standards of living. the way that you have a more prosperous economy, is you need to have incentive to encourage capital formation, to encourage investment, to increase worker productivity -- megyn: what are people going to do with their money? so if i had otherwise invested in stocks and gotten dividends, but now -- because
on that, and president obama wants to change that to you should get taxed on that income as though it's your actual, like, salary. and if that, if he gets his way on that, then that income goes up to whatever your salary tax rate is, plus if you're over 200 or 250, the 3.8%, plus the .9% as well? >> >> it would be just the 3.8. the% 9 is for wage income above that 200 or 250. but it would be on top of your ordinary income tax rate, so we could be looking at investment income being...
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. >> too little, too late; president obama's response to the g.o.p. plan to avoid the cliffally. in an interview with blomberg tv the president said there is not enough time to pull off the republican's proposal that overhauls the tax system and entitlements at tate days from going over the fiscal cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on amounts earned above $250,000. everyone gets the tax cut, the first $250,000 is not taxable only but that. the president says, look, i ran on this and i am going to do this. but he is signaling he could be flexible on how high they would go. ed henry is like. this has been out there for a few days. >>reporter: that right. the president had the governors in today and they underdiscover the fiscal cliff will not just impact the national economy but have a lot of impact on state and local economies, as well, and their state budgets, et cetera. the president, though, is standing firm. and jake carney sayi
. >> too little, too late; president obama's response to the g.o.p. plan to avoid the cliffally. in an interview with blomberg tv the president said there is not enough time to pull off the republican's proposal that overhauls the tax system and entitlements at tate days from going over the fiscal cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on...
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the irs is releasing the rules on how to implement the new taxes that will take effect in 2013 to help pay for the affordable care act. one of the main runs is 3.8 percent sir tax on the investment income. the first tax ever to be applied to capital gains and dividend income. it is a broad range of investment securities and those making thmore than 200,000 a ye and married couples making more than 250,000. they are set to pay a .9 percent healthcare tax on their wages. together the two taxes are supposed to raise 318 billion over ten years. over those years more and more people will be taking them because the income level triggered the taxes doesn't rise with inflation. any one planning to sell a house make more than 500,000 and those gains will also be taxed. they will release a new form for taxpayers to fill out. 1230 returns related to all of the new taxes. all of the rules make it harder for individuals to comply with the regulations. believe it or not experts say they still leave questions unanswered like how rental income will be treated for example. you can expect more clarifica
the irs is releasing the rules on how to implement the new taxes that will take effect in 2013 to help pay for the affordable care act. one of the main runs is 3.8 percent sir tax on the investment income. the first tax ever to be applied to capital gains and dividend income. it is a broad range of investment securities and those making thmore than 200,000 a ye and married couples making more than 250,000. they are set to pay a .9 percent healthcare tax on their wages. together the two taxes...
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president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make his case. >> i have got a pen. [ laughter ] i'm ready to sign it. [ applause ] so, my point here today is is to say let's approach this problem with the middle class in mind. the folks who are behind me and the millions of people all across the country who they represent. >> shepard: well, republicans are saying they need some spending cuts. that they will also have to be part of the deal. and they are accusing the president of campaigning instead of negotiating. >> i mean, every week he spends campaigning for his ideas is a week that we are not solving the problem. it's completely counter productive. the election is over. he won. congratulations. and we have got a hard deadline here, however, and it's still he he is still out on the campaign trail, kind of celebrating. >> shepard: if the president and congress cannot cut a deal by new year's day. automatic spending cuts kick in a
president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make his case. >> i have got a pen. [ laughter ] i'm ready to sign it. [ applause ] so, my point here today is is to say let's approach this problem with the middle class in mind. the folks who are behind me and the millions of people all across the country who they represent. >>...
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. >> president obama has said that he has pen in hand and he's prepared to sign the middle income tax cuts. >> you have a president of the united states that has the mighty pen. you bailed out the banks. bail out the american people that don't have homes for the holidays. >> in his second term i hope he will offer fresh ideas and serious leadership. >> we need a response from the white house. >> i'm hea here to tell you that nobody wants to get this done more than me. >> it's true that president obama won reelection and i congratulate him on his victory, but on january 20th, he'll face a stagnant economy and a fiscal mess. >> our people in an overwhelming way supported the reelection of this president, and there ought to be a quid pro quo and you ought to exercise leadership on that. >> you want the answer to solving the fiscal cliff? we put an offer on the table. the president now has to engage. >> you might even say he'll inherit these problems. >> the president is going away for christmas. he's going to hawaii for 20 something days. where am i going to be? where are my neighbors go
. >> president obama has said that he has pen in hand and he's prepared to sign the middle income tax cuts. >> you have a president of the united states that has the mighty pen. you bailed out the banks. bail out the american people that don't have homes for the holidays. >> in his second term i hope he will offer fresh ideas and serious leadership. >> we need a response from the white house. >> i'm hea here to tell you that nobody wants to get this done more than...
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and it's all in anticipation of what's going to happen in terms of the tax increases, in terms it of the huge expenses of the obama health care law which is facing them as well, so i'm always optimistic, you by have great concerns about the direction of the economy under this president. >> i don't know how you could be opoptimistic if everybody is making vacation plans and all i hear is you're at a stale mate and the goal posts are being moved and nobody is talking in the same room. i just frac fragilely frankly t. >> the election was four weeks ago from tonight. it's four weeks from now in the future that we're over the cliff, and i see no movement by the president. the offer that tim geithner brought was an awful one. he just wants a new credit card without a limit. the senate hasn't passed a bucket in almost four years. >> if we hit the debt ceiling at the end of the month, it will go into effect about february because there's some money games we can do to pay our debt until then, to manage to get by. in february when we're totally out of money and all the americans who filed for
and it's all in anticipation of what's going to happen in terms of the tax increases, in terms it of the huge expenses of the obama health care law which is facing them as well, so i'm always optimistic, you by have great concerns about the direction of the economy under this president. >> i don't know how you could be opoptimistic if everybody is making vacation plans and all i hear is you're at a stale mate and the goal posts are being moved and nobody is talking in the same room. i...
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to raising taxes on those who make more than $200,000 a year. the california federation of teachers are trying to spread this thing around. so far there is no world there is this video being played in classrooms. megyn: they just got a whole lot of airtime on fox news. it raises some interesting questions that we do want to debate. thank you. megyn: what does this message say about the people that are teaching our children what they think. we have monica crowley now. you have to laugh a little bit, don't you? another people are very upset. but, you know, i don't know. does it disturb you that the people who put this together are teaching our children? are you shocked that this is the way they think? >> they want to laugh, which is why they put in this comical cartoonish kind of way, so that if you raise legitimate issues, you are considered some sort of humorless person who doesn't really get it. the problem here is twofold. the teachers that put out this video, at least the union made on behalf of the teachers, these were the people who are tea
to raising taxes on those who make more than $200,000 a year. the california federation of teachers are trying to spread this thing around. so far there is no world there is this video being played in classrooms. megyn: they just got a whole lot of airtime on fox news. it raises some interesting questions that we do want to debate. thank you. megyn: what does this message say about the people that are teaching our children what they think. we have monica crowley now. you have to laugh a little...
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and timothy geithner headed up negotiations for the obama administration says the deal will be hard to come by without tax hikes for higher income americans and republican leaders led by house speaker john boehner calling the president's proposal essentially a waste of time. >> i was flabbergasted. >> we've the got seven weeks between election day and the end of the year, and three of those weeks have been wasted. >> steve centanni kicks off our college tonight from washington d.c. steve, where exactly do we stand tonight? >> well, harris, democrats are hoping republicans to raise taxes on the wealthy and the republicans are accusing the white house of wasting time. and saying that he didn't have a serious proposal when he reintroduced a plan to reduce 4 trillion dollars. >> the president asking for 1.6 trillion dollars worth of new revenue over ten years, twice as much as he's been asking for in public. his system spending in here that exceeded the amount of new cuts that he was willing to consider. it was not a serious offer. >> but so far it's the only white house offer on the table
and timothy geithner headed up negotiations for the obama administration says the deal will be hard to come by without tax hikes for higher income americans and republican leaders led by house speaker john boehner calling the president's proposal essentially a waste of time. >> i was flabbergasted. >> we've the got seven weeks between election day and the end of the year, and three of those weeks have been wasted. >> steve centanni kicks off our college tonight from washington...
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republicans might have to give in to some type of tax increase but president obama will have to come up with more entitlement cuts. jon: jenna had a great segment earlier about milton friedman and what would he do in this situation. >> yes. jon: he said or he was of the opinion if you give the government more money in any form they will figure out a way to spend it. >> senator rubio put it best. he said to create a successful economy, to create successful america we needless government, limited government. instead of making richer people poorer, make poor people richer. instead of new taxes create new taxpayers. we give money to the american people. they know best how to spend their money than big brother government. jon: are you optimist or pessimist when it comes to the question of whether we go over the fiscal cliff? >> i think president obama loves this country and is a patriot and boehner is a patriot and i believe they will work out a deal. if they don't make a deal, 28 million americans will pay alternative minimum tax and families will have their taxes raised $2,000 more and
republicans might have to give in to some type of tax increase but president obama will have to come up with more entitlement cuts. jon: jenna had a great segment earlier about milton friedman and what would he do in this situation. >> yes. jon: he said or he was of the opinion if you give the government more money in any form they will figure out a way to spend it. >> senator rubio put it best. he said to create a successful economy, to create successful america we needless...
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this is why president obama extend the tax rates for a year action because he said this could hurt the economy. here we are again. we're not anywhere different than we were last year really. >> gregg: donna, dick durbin, the senate's number two democrat, said that social security is off the table because i'm going to quote him here -- it does not add a penny to our deficit. that's ludicrus. >> i think that i'm unable to comment because i think the context may have something to do with the sense of lock box and where this money actually comes from and where it sits in the meanwhile before it gets spent. but i also think it's awfully important to remember that in terms of republican cooperation, the president really has been i think very sincere about seeking that cooperation and initially speaker boehner i think expressed with great sincerity his interest in cooperation. i dare say that there has been a lot of biplay among both the senators and the house members on what that cooperation is going to look like. but i do think it's awfully important that we not come out of this process and
this is why president obama extend the tax rates for a year action because he said this could hurt the economy. here we are again. we're not anywhere different than we were last year really. >> gregg: donna, dick durbin, the senate's number two democrat, said that social security is off the table because i'm going to quote him here -- it does not add a penny to our deficit. that's ludicrus. >> i think that i'm unable to comment because i think the context may have something to do...
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president obama released his plan. it includes 1.6 trillion dollars in new tax increases. 50 billion in new stimulus spending. and stimulus, and new power to raise the debt ceiling without congressional approval. tim geithner, john boehner appearing with chris wallace on fox news sunday. >> we're nowhere, period. we're nowhere. we put a serious offer on the table by putting revenues up there to get this question resolved but the white house has responded with virtually nothing. they have actually asked for more revenue than they have been asking the whole entire time. >> in kind of a tough position now. it is going to be, obviously a little hard for them now. they're trying to figure out where they go next. we might need to give them a little more time to let them go next. we did what you expect from us. we laid out a very detailed, carefully designed set of spending savings and tax changes that help put us back on a path to fiscal responsibility. bill: where are we now? senior white house foreign affairs correspondent
president obama released his plan. it includes 1.6 trillion dollars in new tax increases. 50 billion in new stimulus spending. and stimulus, and new power to raise the debt ceiling without congressional approval. tim geithner, john boehner appearing with chris wallace on fox news sunday. >> we're nowhere, period. we're nowhere. we put a serious offer on the table by putting revenues up there to get this question resolved but the white house has responded with virtually nothing. they have...
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president obama wants to raise revenue by taxing those making $250,000 or more a year. it rises from 33% and 35% today to 36% and 39.6%, i believe. but that would only generate about 85 billion a year. according to the treasury department, the federal government spends that amount every eight 1/2 days. do you think that the point is purely political for the president since that's what he campaigned on? >> that is what speaker john boehner said, is that washington has a spending problem, not a tax problem. but speaker john boehner has a political problem in that their party's guy lost the election. there is no doubt about it that the math on both sides, they are far apart. and if you add up all the revenue that will only last of eight days of funding the federal government. but there has to be compromise. republicans will have to give some ground on taxes, whether it's 800 billion, or 1.6 trillion, maybe 1.2 trillion or in that range. of course whatever deal they reach they have to get the votes for, and that's just the beginning. this fiscal cliff deal if they reach one
president obama wants to raise revenue by taxing those making $250,000 or more a year. it rises from 33% and 35% today to 36% and 39.6%, i believe. but that would only generate about 85 billion a year. according to the treasury department, the federal government spends that amount every eight 1/2 days. do you think that the point is purely political for the president since that's what he campaigned on? >> that is what speaker john boehner said, is that washington has a spending problem,...
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as the financial times points out they endorsed president obama. this is the same kind of proposal that president obama took to congress two years ago that got zero votes. this is the exact heavy on the revenue side, $1.6 trillion on tax increases, low on spending side and then he adds $200 billion of new spending. on top of that something we've never heard of before, he wants congress to basically give up the authorization to raise the debt limit which is part of their constitutional powers and he wants a bank check. this is very unserious and the speaker is frustrated. >> heather: i would like to break that apart. president calls for $1.6 trillion in tax increases, that is double what was previously suggested. so what part of this plan along with the $600 billion in saving including medicare that suggested in the $200 billion in additional spending, what part of this plan is a balanced or bipartisan approach? >> i bet john boehner things the grand bargain was good deal last year. the chicken question is john boehner having to blink. president was
as the financial times points out they endorsed president obama. this is the same kind of proposal that president obama took to congress two years ago that got zero votes. this is the exact heavy on the revenue side, $1.6 trillion on tax increases, low on spending side and then he adds $200 billion of new spending. on top of that something we've never heard of before, he wants congress to basically give up the authorization to raise the debt limit which is part of their constitutional powers...
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people want to see actual tax reform. get the job done and the kick the can down the road is what we have done for the last four years. will president obama be a different president now he's reelected and will he be concerned about his legacy and take hold and lead discussions on the bigger issues. it upon didn't seem like it is happening in this interview. >> one of the things that i have suggested is that we are not going to be able to come up with a tax reform package that gets it all done in the next two weeks. we'll not be able to come up with a comprehensive enment program in two weeks you look at what ronald reagan did working with bill bradley and others. it was a year and half process. what i suggested put a down payment on taxes, let's let tax rates on the upper income folks go up. >> but do they have to go up to 39 percent. >> let me describe the process. let those go up and then set up a process with the time certain in the end of 2013 or fall of 2013 where we work on tax reform and look at deductions thatrepu
people want to see actual tax reform. get the job done and the kick the can down the road is what we have done for the last four years. will president obama be a different president now he's reelected and will he be concerned about his legacy and take hold and lead discussions on the bigger issues. it upon didn't seem like it is happening in this interview. >> one of the things that i have suggested is that we are not going to be able to come up with a tax reform package that gets it all...
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says he will only agree to a deal that raises tax rates on top earners. >> we are not going to simply cut our way to prosperity or cut our way out of this deficit problem. we are going to need more revenues. in order to do that that start with higher rates for the folk at the top. the reasonien, the reason i say that is not to punish success or go after folk just because they are wealthy. it's a simple proposition that you can't raise enough revenue and if you don't raise enough revenue through closing loopholes abductions, it's going to be middle class families that make up the difference. bill: john boehner will speak later this hour. we'll see how he responds to that comment. if washington can't get a deep, automatic tax increases and massive spending cuts do take effect. martha: west virginia senator joe manchin, a democrat discussing the fiscal cliff, social security within medicare. he believes they must be run more efficiently. >> last year the office of budget management says $115 billion was misspent. that's a tremendous savings right there. they are both much lower than ever
says he will only agree to a deal that raises tax rates on top earners. >> we are not going to simply cut our way to prosperity or cut our way out of this deficit problem. we are going to need more revenues. in order to do that that start with higher rates for the folk at the top. the reasonien, the reason i say that is not to punish success or go after folk just because they are wealthy. it's a simple proposition that you can't raise enough revenue and if you don't raise enough revenue...
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taxes on wealthy as we all heard. you hear much less about cutting government spending. to make matters worse, citizens sense government waste, congress, especially senate where most members are committee chairman or subcommittee chairman are inate bias against cutting government spending. this is tom schatz. >> they don't want to give up power, jurisdiction or the money. it is also a lot easier for members of congress to run back home and say i'm fixing this problem by spending money. i'm not fixing the problem by solving the problem, and providing the benefits that people need. >> reporter: cutting spending and attending to constituent needs are often very much in conflict, jenna. jenna: we heard a lot of different strategies, haven't we, doug, the ways to tackle the debt and deficit. is there any alternative that really exists besides cutting government waste and spending? >> reporter: one potential avenue they could take would be to actually fall off the fiscal cliff. that would necessarily make the difficult choi
taxes on wealthy as we all heard. you hear much less about cutting government spending. to make matters worse, citizens sense government waste, congress, especially senate where most members are committee chairman or subcommittee chairman are inate bias against cutting government spending. this is tom schatz. >> they don't want to give up power, jurisdiction or the money. it is also a lot easier for members of congress to run back home and say i'm fixing this problem by spending money....
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: later on today president obama will say that any deal reached in congress must include increased tax rates on the wealthiest americans. he will say that at a factory in hatfield, pennsylvania, where the company connects, makes tinker toys. that is company the white house picked for today's event because they rely on the middle class consumers who would be affected if we go off the fiscal cliff. martha. martha: that will be a major sticking point it sounds like. peter, thank you very much. bill: so what happens if your taxes or to your taxes if lawmakers don't strike a deal? the tax policy center says that 90% of the americans would see a tax hike next year in 2013. it says 121 million americans will be paying more in payroll taxes, and families making between 40 and $65,000 a year, will pay an extra $2,000 to the government. that starts in 2013. martha: some say that they're concerned that what happens in europe could also happen here down the road. look at europe's economy down the road. 11.7% unemployment. that is another record high in the month of october. breaking that down, it
: later on today president obama will say that any deal reached in congress must include increased tax rates on the wealthiest americans. he will say that at a factory in hatfield, pennsylvania, where the company connects, makes tinker toys. that is company the white house picked for today's event because they rely on the middle class consumers who would be affected if we go off the fiscal cliff. martha. martha: that will be a major sticking point it sounds like. peter, thank you very much....
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instead of having a 72,000 page tax code. one of the things that paul ryan signaled was interesting where he said that big government is not effective government. conservative message can be making this thing ever bigger, passing 6000 regulations with the obama administration -- maybe that does not lead to you being served better in your community. and i would like to talk you about how we can make it simpler and better for you. greg: mary katharine ham and juan williams. thank you both so much. [talking over each other] greg: i would like to put them in charge. jenna: we will see what happens next. in the meantime, we are turning to some crime headlines. a man is terrorizing a store clerk and police are on the hunt for who this guy is. plus, protests raging in egypt again today. supporters and how it may impact a political crisis there. he will dueling protests are rocking egypt. thousands of supporters taking on opponents. the opposition is taking on a sit in there. aaron david miller is a former advisor to the secretary of
instead of having a 72,000 page tax code. one of the things that paul ryan signaled was interesting where he said that big government is not effective government. conservative message can be making this thing ever bigger, passing 6000 regulations with the obama administration -- maybe that does not lead to you being served better in your community. and i would like to talk you about how we can make it simpler and better for you. greg: mary katharine ham and juan williams. thank you both so...